BROOKFIELD, Wis., Jul 27, 2006 (BUSINESS WIRE) -- RemitStream Solutions, the remittance processing unit of Fiserv Inc. (Nasdaq:FISV), has partnered with ShoreBank in Chicago to implement customized wholesale lockbox services for Y-ME National Breast Cancer Organization, ShoreBank's first major lockbox processing customer. The Web-based lockbox reporting feature of this wholesale lockbox solution has enabled Y-ME to improve its accounts receivable posting process for its annual Mother's Day fund-raising event.

Ron Maryas, manager of corporate services for ShoreBank in Chicago, said the bank's agreement with RemitStream Solutions enables the bank to offer the latest in lockbox technology to its customers and match the capabilities of many of its larger competitors.

"By partnering with RemitStream Solutions, we can now compete more effectively for lockbox business," Maryas said. "Because RemitStream Solutions' core competency is lockbox processing, we get quality lockbox services tailored to our specific needs."

Maryas said Y-ME asked for online lockbox reporting enhancements to accommodate the processing of more than $6 million in donations received from participants in its Mother's Day events this year.

"RemitStream Solutions was willing to work closely with us to ensure the greatest efficiency in providing Y-ME with its payment information," Maryas said. "Equally as important, we found it easy to allow RemitStream Solutions' staff to work directly with Y-ME because of their responsiveness and high-quality service."

Anna Quinlan, RemitStream Solutions' president, said the agreement with ShoreBank demonstrates RemitStream's ability to manage lockbox operations for financial institutions of all sizes.

"With RemitStream Solutions, ShoreBank could offer Y-ME same-day access to check and remittance document images without having to make significant capital expenditures in image technology," said Quinlan.

About ShoreBank

ShoreBank is a leading community development and environmental bank holding company with assets of more than $1.8 billion as well as banks and affiliated nonprofits in Chicago, Cleveland, Detroit, Ilwaco, Wash. and Portland, Ore. ShoreBank is committed to building stronger communities, creating a healthier environment, and helping its customers achieve financial success.

About Y-ME National Breast Cancer Organization

Founded nearly 30 years ago, Y-ME National Breast Cancer Organization is "where to turn when your world turns upside down" by a breast cancer diagnosis. Y-ME has the only 24-hour hotline staffed entirely by trained peer counselors who are breast cancer survivors, with interpreters in 150 languages. Affiliates throughout the nation provide services such as support groups, breast health awareness workshops, wigs and prostheses for women with limited resources and advocacy on breast cancer related policies in their communities. For breast cancer information or support, visit www.y-me.org or call the 24-hour Y-ME National Breast Cancer Hotline at 1-800-221-2141.

About RemitStream Solutions

RemitStream Solutions, on the Web at www.remitstream.com, provides financial institutions with multi-site, quick-to-market lockbox processing solutions with no capital expenditures. Headquartered in Chicago, RemitStream Solutions' wholesale, retail, wholetail, and image lockbox services employ the latest image processing technology. Businesses receiving payments through the mail receive same-day access to check and remittance document images via the Internet, image transmission or CD-ROM. RemitStream Solutions, a unit of Fiserv Inc., is a private-label processor dedicated solely to lockbox processing.

About Fiserv Inc.

Fiserv Inc. (Nasdaq:FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing, software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management, and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.

SOURCE: Fiserv, Inc.

RemitStream Solutions
Joe Mikel, 312-660-5185
joe.mikel@fiserv.com
or
Fiserv, Inc.
Mike Muckian, 262-879-5667
mike.muckian@fiserv.com

Copyright Business Wire 2006

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